Clydesdale Bank has announced an important product update for advisers. Please see below for more details. Contact us for more information, alternatively, you can visit their website here.
ANNOUNCEMENTS
Introducing Clydesdale Bank’s new max LTVs
We’ve made some exciting changes to Clydesdale Bank’s lending criteria and products so we can say yes to more customers.
Improved LTV bands and higher loan sizes
We’ve increased the LTV by loan amount across all residential tiers and can now lend up to:
- 95% LTV to £600k
- 90% LTV to £1m
- 85% LTV to £1.5m
- 80% LTV to £2.5m
- 75% LTV to £5m
- 60% LTV to £10m
Interest Only is available up to 75% LTV and Part & Part is available to 80% LTV. For more information take a look at all our new max LTVs.
For residential loans above £1.5m, downsizing is also now accepted as a repayment strategy up to 70% LTV, previously capped at 60% LTV. This can be topped up with another repayment vehicle or Capital and Interest, subject to overall max LTV limits.
Our new products, lending criteria and affordability calculator are now live and our AIP is in the process of being updated.
To support this change we’ve launched the following Clydesdale Bank products.
- NEW 85% LTV £1m+ 2 and 5 year fixed rates with £1,999 fee, starting from 2.02%.
- NEW 90% LTV £600k+ 2 and 5 year fixed rates with £999 fee, starting from 2.38%.
We’re withdrawing selected Clydesdale Bank rates
We wanted to let you know that we’re making changes to the following Clydesdale Bank residential products for new customers at 8pm today.
- 75% LTV 2 year fixed rate Full C&I with fee and Fee Offer options will be withdrawn
- 80% LTV 2 Year Fixed Rate Full C&I with fee will be withdrawn
We’re withdrawing selected Clydesdale Bank ratesThese rates will still be available to existing customers for product transfer.
You can find our current rates on our website.